Los Angeles Capital Management & Equity Research Inc. reduced its position in McDonald’s Corp. (NYSE:MCD) by 5.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 776,751 shares of the fast-food giant’s stock after selling 45,895 shares during the period. McDonald’s Corp. makes up approximately 0.8% of Los Angeles Capital Management & Equity Research Inc.’s investment portfolio, making the stock its 19th largest position. Los Angeles Capital Management & Equity Research Inc. owned about 0.09% of McDonald’s Corp. worth $93,474,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Pennsylvania Trust Co boosted its position in McDonald’s Corp. by 3.3% in the second quarter. Pennsylvania Trust Co now owns 108,250 shares of the fast-food giant’s stock worth $13,027,000 after buying an additional 3,477 shares in the last quarter. Exxonmobil Investment Management Inc. TX boosted its position in McDonald’s Corp. by 3.5% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 227,234 shares of the fast-food giant’s stock worth $27,345,000 after buying an additional 7,714 shares in the last quarter. Geode Capital Management LLC boosted its position in McDonald’s Corp. by 4.0% in the first quarter. Geode Capital Management LLC now owns 7,789,916 shares of the fast-food giant’s stock worth $977,173,000 after buying an additional 302,511 shares in the last quarter. Royal Bank of Scotland Group PLC bought a new position in McDonald’s Corp. during the first quarter worth $540,000. Finally, National Pension Service boosted its position in McDonald’s Corp. by 4.2% in the first quarter. National Pension Service now owns 481,054 shares of the fast-food giant’s stock worth $60,459,000 after buying an additional 19,502 shares in the last quarter. Hedge funds and other institutional investors own 69.19% of the company’s stock.

McDonald’s Corp. (NYSE:MCD) traded up 1.08% during midday trading on Tuesday, hitting $116.45. The stock had a trading volume of 3,817,881 shares. McDonald’s Corp. has a 52 week low of $95.78 and a 52 week high of $131.96. The firm has a market cap of $99.37 billion, a P/E ratio of 22.24 and a beta of 0.59. The stock has a 50-day moving average of $116.61 and a 200-day moving average of $122.30.

McDonald’s Corp. (NYSE:MCD) last released its earnings results on Tuesday, July 26th. The fast-food giant reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.06. The company earned $6.27 billion during the quarter, compared to the consensus estimate of $6.28 billion. McDonald’s Corp. had a return on equity of 97.56% and a net margin of 18.73%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.26 earnings per share. Analysts forecast that McDonald’s Corp. will post $5.56 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Thursday, September 1st were given a dividend of $0.89 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 3.09%. McDonald’s Corp.’s payout ratio is currently 68.59%.

Several research firms have recently commented on MCD. Credit Suisse Group AG reiterated an “outperform” rating and set a $132.00 target price on shares of McDonald’s Corp. in a research note on Friday. Robert W. Baird reiterated an “outperform” rating on shares of McDonald’s Corp. in a research note on Thursday, September 8th. Citigroup Inc. reduced their target price on McDonald’s Corp. from $130.00 to $122.00 and set a “neutral” rating for the company in a research note on Tuesday, September 13th. Vetr upgraded McDonald’s Corp. from a “hold” rating to a “buy” rating and set a $121.01 target price for the company in a research note on Monday, September 5th. Finally, Canaccord Genuity began coverage on McDonald’s Corp. in a research note on Monday, August 22nd. They set a “hold” rating and a $122.00 target price for the company. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $126.62.

In other news, Chairman Andrew J. Mckenna sold 70,000 shares of the business’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $118.28, for a total transaction of $8,279,600.00. Following the completion of the sale, the chairman now owns 108,841 shares in the company, valued at $12,873,713.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.28% of the company’s stock.

About McDonald’s Corp.

McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally-relevant menu of quality food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets and Foundational Markets and Corporate.

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